Vietnam Morning News For June 2

Vietnam Morning News For June 2

Vietnam morning newsNA discusses $16b Long Thành airport project
Land clearance for the Long Thành airport project in the southern province of Đồng Nai should be sped up to prevent price slippage that will affect investment capital and to help people living in the project area stablise their living conditions, said National Assembly (NA) deputies on Thursday.
Viet Nam News 

Banks remain main backers of property market
The real estate market is recovering strongly and attracting huge sums of money from banks, foreign investors and overseas Vietnamese.
Viet Nam News 

MoF: Public debt to reach record high in 2017
Depending on GDP growth, public debt will be high this year and next year before tapering off.
Vietnam EconomicTimes

Vietnamese spend $872mn on smartphones in Q1 2017
Ten out of every one thousand smartphones sold worldwide in the first quarter of 2017 were to Vietnamese users, who collective spent nearly VND20 trillion on the hi-tech devices, two separate reports show.
Tuoi Tre News 

Number of new businesses increases in VN
Nearly 11,000 new enterprises were established in the country in May with total registered capital of VND119.24 trillion (U$5.24 billion).
Viet Nam News Biz Hub

Vietnam’s first oil refinery valued at $3.2b ahead of November IPO
Binh Son Refinery and Petrochemical (BSR), Vietnam’s first oil refinery was valued at approximately VND72.88 trillion ($3.2 billion) at the end of 2015, the company said on Thursday, as it prepares for its November IPO, this year.
Deal Street Asia 

Vietnam PM urges US to increase fruit imports
Vietnam’s Prime Minister Nguyen Xuan Phuc said he intends to sign a deal for mostly high-tech imports from the United States worth U.S. $15-17 billion during his visit to Washington, ahead of a meeting with U.S. President Donald Trump, scheduled for Wednesday.
Fresh Plaza 

Asia importer demand pushes rice prices; Vietnam hits near 2.5-yr high
Vietnam’s 5-percent broken rice RI-VNBKN5-P1 was quoted at a level unseen since December 2014, at $390 a tonne, FOB Saigon, up from $360-$380 last week, as suppliers looked forward to export deals, traders said.
Tuoi Tre News 

Trump-Phuc rekindle US-Vietnam warming trend
The Vietnamese government had much to celebrate after Prime Minister Nguyen Xuan Phuc met on Wednesday with US President Donald Trump in the White House. Business deals were signed and America appeared to offer Vietnam new strategic support in its defense against a perceived as expansionist China.
Asia Times

Genesia Ventures, Pix Vine lead seed investment in realty portal Homedy
Japanese early stage investor Genesia Ventures has co-led a funding round in Vietnamese startup, Homedy.com, along with Singapore investment house Pix Vine Capital.
Deal Street Asia 

US firm Vemanti to acquire Vietnam’s tech conglomerate Two Group
US-headquartered Vemanti Group, a diversified holding company, has entered into an agreement to acquire a majority stake in Ho Chi Minh City-based tech firm Two Group JSC.
Deal Street Asia

VN has huge potential in franchising
Dozens of franchises are being established in Viet Nam and more new brands are expected to enter the market in the near future, according to experts.
Viet Nam News

Khánh Hòa: Investors interested in solar power projects
Investors have shown interest in the solar energy sector in the central coastal province of Khanh Hoa, with some 10 solar projects applying for investment licences in the province.
Viet Nam News bizhub

NAPAS chairman becomes head of SBV payment department
Pham Tien Dung, chairman of the National Payment Corporation of Viet Nam (NAPAS), was appointed head of the State Bank of Viet Nam (SBV)’s payment department on Thursday.
Viet Nam News bizhub

Vietnam insistent in chasing growth with mining despite concerns
Vietnam’s government officials on Thursday continued to put forth their plans to pursue economic growth this year with oil and gas mining, playing down warnings from lawmakers.
VnExpress 

Merchandising and marketing top with most positive job outlook
Candidates specialising in merchandising and marketing have the most positive job outlook this year as local demand leads economic growth in Viet Nam, according to a 2017 job outlook report by JobStreet.com.
Viet Nam News bizhub

Bình Dương promotes trade in Italy
The southern province of Binh Duong held a conference to promote local investment opportunities in Italy on Tuesday, aimed at securing future partnerships with the host country’s Campania region.
Viet Nam News bizhub

US investors continue to pour capital into Vietnam
Renowned US corporations like Uber, Coca-Cola, Exxon Mobil, Cargil and Pfizer are expanding their business in Vietnam, contributing to Vietnam’s export growth.
Vietnam Plus 

World Bank suggestions to resolve VN’s bad debts
Experts from the World Bank have made four key recommendations to resolve Viet Nam’s problem of non-performing loans (NPLs).
Viet Nam Newsbizhub 

Operator of Vietnam’s sole oil refinery valued at $3.2 billion ahead of IPO
An initial 5-6 percent stake will be on offer to the public, but a controlling stake could be on the table if a strategic investor comes up with the goods.
VnExpress

‘Tel’ properties need legal clarity
The emerging trend of “condotels” and “officetels” (condominiums and offices treated as hotels) as attractive investment options in the country requires that the legality of such properties are clarified urgently, experts say.
Viet Nam News 

Experts assess HCM City property market
Being the economic hub of the country, HCM City has kept developing and attracting people from other regions as well as countries. This migration is one of the factors that keep its real estate market buzzing.
Viet Nam News 

MobiFone’s 2016 pre- and after-tax profit down
Recently released financial statement shows 27% decline in pre-tax profit and 22% in after-tax profit.
Vietnam EconomicTimes

Saigon Newport keen on transit through Kazakhstan
Port officials meet with Kazakhstan’s National Railways Corporation to discuss possibilities of creating an effective logistics chain between Southeast Asia and the EU.
Vietnam EconomicTimes

May PMI at 14-month low
Manufacturing Purchasing Managers’ Index at weakest since March last year.
Vietnam EconomicTimes

FPT signs MoU with UPS in US
MoU signed on May 31 during US visit by PM Nguyen Xuan Phuc.
Vietnam EconomicTimes

Vietnam’s food industry attractive to foreign investors
Several foreign firms have recently acquired stakes in Vietnamese food processing enterprises, showing the local food industry’s increasing attractiveness.
Vietnam Net Bridge 

Vietnam, US look for signing of customs assistance agreement
Vietnam and the US have signed a letter of intention on accelerating and completing negotiations for the signing of a customs mutual assistance agreement between the two countries.
Vietnam Net Bridge 

 

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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

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